Perigon Wealth Management LLC Takes $267,000 Position in Western Digital Corporation $WDC

Key Points

• Perigon Wealth Management LLC has acquired a new position in Western Digital Corporation, purchasing 4,177 shares valued at approximately $267,000 during the second quarter.
• Insider Vidyadhara K. Gubbi sold 11,343 shares of Western Digital, reducing their holdings by 6.96%, with a total value of over $1 million from this transaction.
• Western Digital recently announced a quarterly dividend of $0.10 per share, with an annualized dividend yield of 0.3%.

Perigon Wealth Management LLC acquired a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,177 shares of the data storage provider's stock, valued at approximately $267,000.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Western Digital by 29.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,864 shares of the data storage provider's stock worth $1,125,000 after purchasing an additional 4,324 shares during the period. Versant Capital Management Inc raised its stake in Western Digital by 879.4% during the first quarter. Versant Capital Management Inc now owns 4,045 shares of the data storage provider's stock worth $164,000 after buying an additional 3,632 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Western Digital by 3,470.0% in the first quarter. GAMMA Investing LLC now owns 253,294 shares of the data storage provider's stock valued at $10,241,000 after buying an additional 246,199 shares during the period. Rhumbline Advisers boosted its position in Western Digital by 7.3% during the first quarter. Rhumbline Advisers now owns 674,874 shares of the data storage provider's stock valued at $27,285,000 after acquiring an additional 46,202 shares during the last quarter. Finally, Czech National Bank grew its holdings in Western Digital by 6.6% during the 1st quarter. Czech National Bank now owns 79,889 shares of the data storage provider's stock worth $3,230,000 after acquiring an additional 4,932 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Vidyadhara K. Gubbi sold 11,343 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $90.29, for a total value of $1,024,159.47. Following the transaction, the insider directly owned 151,596 shares of the company's stock, valued at approximately $13,687,602.84. The trade was a 6.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gene M. Zamiska sold 353 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $80.90, for a total transaction of $28,557.70. Following the transaction, the senior vice president owned 27,425 shares of the company's stock, valued at approximately $2,218,682.50. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,730 shares of company stock valued at $3,921,594. 0.30% of the stock is currently owned by company insiders.

Western Digital Trading Up 2.8%

Shares of WDC stock opened at $120.06 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. The company has a market capitalization of $41.89 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 1.00 and a beta of 1.69. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $122.59. The company has a 50-day simple moving average of $86.36 and a two-hundred day simple moving average of $62.62.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.18. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The company's revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 EPS. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. Research analysts anticipate that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. Western Digital's dividend payout ratio (DPR) is currently 7.77%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WDC shares. The Goldman Sachs Group initiated coverage on Western Digital in a research report on Thursday, July 10th. They set a "neutral" rating and a $70.00 target price on the stock. Benchmark increased their price target on Western Digital from $85.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Barclays raised their price objective on shares of Western Digital from $80.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Mizuho raised their price target on shares of Western Digital from $87.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Finally, Wells Fargo & Company lifted their price target on shares of Western Digital from $80.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $91.47.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.

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